H.C. Wainwright analyst Douglas Tsao has reiterated their bullish stance on RZLT stock, giving a Buy rating yesterday.
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Douglas Tsao has given his Buy rating due to a combination of factors that highlight Rezolute’s promising outlook. The company has shown significant progress with its drug, ersodetug, particularly after the FDA lifted the partial clinical hold, allowing for the completion of patient enrollment in the sunRIZE study. This study’s strong enrollment numbers underscore the unmet need in the market and the positive perception of the Phase 2 data by investigators.
Furthermore, Rezolute’s strategic plans, including the anticipated submission of a Biologics License Application (BLA) in 2026 following a successful Phase 3 readout, bolster confidence in its future prospects. The appointment of a seasoned Chief Commercial Officer to spearhead commercialization efforts further strengthens this outlook. Despite risks such as financial constraints and potential competition, the valuation based on a risk-adjusted revenue estimate supports the Buy rating, with a price target reflecting the company’s potential growth trajectory.
In another report released yesterday, BTIG also reiterated a Buy rating on the stock with a $17.00 price target.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RZLT in relation to earlier this year.